Hi there. Yes, you! You want to deregister a Foreign Company (Branch) in Kenya but you can’t figure out where to start? While the deregistration of a Foreign Company may feel like a daunting task muddled by constant demands and requests from the Companies Registry and other Regulators, it can also be a hustle-free process by following 2 simple steps.
First things first, be compliant! Ensure the Branch has complied with all the regulatory and statutory filings. This includes the linking of the Branch on the Business Registration Services (BRS) platform and filing of Financials Statements and changes that have taken place in the parent Company. This will prevent the back and forth with the Companies Registry, as a Branch is required to be fully compliant with all requirements as set out in the Companies Act, 2015 up to the date of deregistration.
Also, ensure that all statutory filings have been made to the various regulatory bodies the Branch is registered within Kenya. This includes the Kenya Revenue Authority, the National Social Security Fund (NSSF), the National Hospital Insurance Fund (NHIF) and Higher Education Loans Board (HELB) as failure to comply with the various Regulators will cause continuous delays in the deregistration process.
The next step is lodging the deregistration application. The application is to be lodged by the Registered Local Representative of the Branch to the Registrar of Companies through the BRS Platform. Ensuring that your application is correctly filed and all the required information is provided helps to avoid any unnecessary delays in the review and approval of the application.
When all the above requirements have been addressed, the application will be processed and approved. After that, the status of the Company on the BRS platform will read ‘Struck Off’ and a Letter confirming the strike off is issued by the Registrar of Companies. A gazette notice will not be issued as is the case for a Locally Registered Company.
Once the Company has been deregistered at the Companies Registry and the Letter confirming strik-off has been issued one can proceed to deregister the Branch with the other Regulatory Bodies.
Following the above steps will make the process seamless and easy. Reach out to us for more insight on the process and requirements.